Government likely to announce interest subsidy on home loans
The government is likely to announce one per cent of interest subsidy on housing loans up to Rs15 lakh with cost of the house not exceeding Rs25 lakh in a bid to help low and medium income households to own their own dwellings.
The interest subvention scheme for the year 2011-12 was limited to a housing loan up to Rs10 lakh with cost of the housing loan not exceeding Rs20 lakh.
But in the budget, it was announced that the facility would not only be extended for one more year, even the limit for the loan amount and cost of the house would also be increased by Rs5 lakh each, sources said.
The decision is being taken keeping in view the success of the scheme, as last year the fund allocated for the purpose has been completely utilised, added sources.
To read more real estate news:
Home loan enquiries up over 18 per cent: CIBIL
Source: Deccan Herald
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